Electric vehicles (EVs) have been buzzing around the global motoring world for a couple of years now, and South Africa is beginning to catch on. Especially with the growing concern over climate change. As more people are looking for ways to reduce their carbon footprints, it makes sense that more drivers are thinking about ditching petrol or diesel and going electric.
Are you 1 of those drivers?
Okay, before taking the leap, you really need to weigh the benefits, costs, and environmental impact of EVs compared to traditional fuel cars. Thankfully, we can help you figure out if EVs are a smart choice for South African drivers.
The environmental case for EVs
In South Africa, road transport is a significant contributor to the country’s carbon emissions, accounting for almost 13% of total emissions. In fact, the World Bank states that South Africa emits around 9 tonnes of CO2 per capita annually.
That’s why we thought we’d address the biggest selling point of electric cars, which is their environmental impact. Basically, EVs produce zero tailpipe emissions, which means they don’t contribute directly to air pollution or the release of harmful gases like carbon dioxide (CO2) into the atmosphere. Switching to electric vehicles can play a crucial role in reducing this figure.
We have to point out the obvious. EVs run on electricity, so how the carbon footprint is reduced really does depend on how the electricity is generated. South Africa still relies heavily on coal for energy production, so yes… EVs can help the environment, but in our case, it will be much better when the government introduces more renewable energy sources.
The running costs
Surprise surprise, EVs cost much more than ‘normal’ cars. In the win column, the cost of electricity needed to power an EV is way lower than filling up your tank, so the running costs of EVs can make up for this price difference over the long term.
We noodled around with an online fuel consumption calculator to compare costs. What we saw was that an average petrol car could pay around R2,500 for fuel, while charging an EV could set you back around R800 per month. This was just a bit of fun, but the logic remains.
EVs cost less than fuel-driven cars and the savings are intriguing.
Just keep in mind that South Africa’s charging network is still developing. So yes, there are around 350 public charging stations across the country, and you could install a home charging station, but still… Charging stations aren’t as widespread as fuel stations.
The maintenance savings
EVs come with lower maintenance costs, which is good news. The reason is that EVs have fewer moving parts than traditional cars, so really, there’s less that can go wrong and you don’t have to worry about oil changes, transmission issues, or exhaust system repairs.
Is it worth the investment
We can’t ignore the fact that EVs come with a hefty price tag and there’s not much variety. There are more more affordable models on the market, like the MINI Cooper SE and the Nissan Leaf, but still. These models are hardly cheap.
So, is it worth the investment? It seems like you could recoup the upfront costs through the savings we highlighted. And there may even be government incentives as the country moves towards greener energy, although that’s TBC. When you think about all this and the ever-increasing fuel prices, owning an EV could make financial sense over time.
The king’s approach to insuring your EV
Whether you’re driving a petrol-powered car or have already made the leap to an EV, you’ll need reliable insurance to protect your investment. That’s where King Price comes in. We’re known for our innovative approach to insurance, and we make it a point to provide South Africans with affordable and flexible insurance solutions that help you save over time.
EVs are very likely the future of motoring, so if you’re ready to hit the road in a greener, more sustainable way, it might be time to start exploring your options… And we’re here to offer you the peace of mind you need along the way.
Looking for a commitment-free quote? You’re in the right place. Just click here or WhatsApp us on 0860 50 50 50 so that we can chat about the right insurance for you, no matter what car you drive.
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Psst… This blog provides general info only, and doesn’t count as financial or product advice from King Price or our legal and compliance experts. Remember, all our premiums are risk-profile-dependent, and T’s and C’s apply. Our most up-to-date KPPD (policy wording) can always be found here.
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